Betting Guidelines

Betting is allowed for all races. Here are a few guidelines for betting:

Minimum bet is 1s (1/16). This is so returns can be paid out in t (32nds).

Betting is allowed to begin at the second (or statistics) post, which will include the statistics of the entrants and their odds of winning.

Bettors may place bets any time during a race, but absolutely no more bets will be accepted after 24 hours prior to the end of the race.

Betting may be formal or informal.

Formal bets are placed with Kes (who will run the NPC bookies) or with any PC bookies (not that we have any at the moment) and bet winners shall receive a prize (to be designated at the opening of each race).

Informal bets are placed among friends (i.e. "I bet a firelizard egg that such-and-such runner will win," and if that person loses, he or she buys (or gives from his/her own firelizard clutch) firelizard eggs to all those who bet against him/her).

For Competitive Events

Barrel Racing, Calf Roping, Team Roping, Runnerbeast Racing

Get the entrants' modifiers and wins/losses, set in an array ordered ascending by score (modifier)

Entrant

Scores (S)

# of Wins/Losses

Entrant A

-3

2 Wins

Entrant B

-1

1 Loss

Entrant C

2

0 Wins/Losses

Entrant D

4

2 Losses

Find the range R=(|SF|+|SL|)where F=lowest number, L=highest number

R=(|-3|+|4|)R=7

Find base fraction, B=(R+S)/R

Entrant A

4/7

Entrant B

6/7

Entrant C

9/7

Entrant D

11/7

Add numerators above to get new denominator

4+6+9+11 = 30

Set base odds (B)

Entrant A

4/30 = 2/15

Entrant B

6/30 = 1/5

Entrant C

9/30 = 3/10

Entrant D

11/30

Cook the odds by a factor of 1 (increase by 1/B)

Entrant A

5/30 = 1/6

Entrant B

7/30

Entrant C

10/30 = 1/3

Entrant D

12/30 = 2/5

Figure in wins/losses, worth factor of ± 1/2B

Entrant A

6/30 = 1/5

Entrant B

13/60

Entrant C

9/30 = 3/10

Entrant D

11/30

Determine the ratio (D-N):(N)

Entrant A

4:1

Entrant B

47:13

Entrant C

7:3

Entrant D

19:11

Winnings = ((D/N)*Bet)-Bet

Assuming a bet of 1 unit:

Entrant A

4 units

Entrant B

3.62 units

Entrant C

2.33 units

Entrant D

1.73 units

(Note: total winnings includes the winnings noted above plus the original amount of the bet)

* A bettor's winnings is the amount the bettor wins, not including their original bet. The return is the total amount the bettor receives from the bookie when collecting their winnings. NOTE: Due to the extremely high potential returns on certain bets, the maximum payout is 100 Marks + the original bet.

If you follow the fractions out, you'll note that if there is more than a difference of 4 between the rider's and the mount's odds, the winnings are less than the smallest demonimation of Pernese currency. When this happens, a minimum bet is instituted on the event in order to make the smallest winnings equal to 1/32 Mark.